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the fiscal cliff standoff is hitting the economy. the add pressure on washington to reach >>> live look from our vollmer peak cam east bay hills bay bridge there, you can see how chilly it is in spots and you don't see fog. both those conditions are out there. mike will update you on that in a few minutes. >>> in an hour the labor department will release november jobs report analysts the unemployment rate to remain at 7.9%. economists blame everything from sandy to worries over the fiscal i cliff. >> reporter: the fiscal cliff is still three weeks ago the economy may have already taken a hit economists predict the jobs report will show employers added fewer than 100,000 workers in november. superstorm sandy may be part of the reason, worry over the fiscal cliff may have also had an impact. some estimate at least 200,000 fewer jobs have been created this year, due to urn certainty about the fiscal cliff. -- >> reporter: >> the president: it is important we get this done now. >> reporter: in washington republicans and democrats are talking, no breakthrough locked in a stalemate. president obam
gang autos the report is better hahn expected. the labor zeptz the economy added 146,000 new jobs in november. the rate also fell to 7.7%. some people who are looking for work were not counted as unemployed because they stopped looking. there is evidence that itjte hirings. >> national highway safety administration proposed new rules requiring event data recorders or black box devices in most new cars and trucks produced in late 2014. auto makers have been tucking them for years, recording actions of the drivers and of a continuous loop. supporters say it can help determine the cause of accidents leading to safer vehicle design buzz privacy advocates say they won't support technology until policies to prevent misuse of the information collected are put into place. >> dish network may join forces and why are shares of groupon up so much? >> hi, john. soon be teeming up with sprint nextel, learning dish may cut a deal that would allow dish to offer mobile phone service. something it's been desperate to do to offset reliance on satellite tv business. people say the two could end up s
on the possible impact of voter-approved prop 30. what the tax increases could do to the economy. >> we're going through a shift. >> it's called tv everywhere. later efforts by a bay area company to bring programs you want to lap top or tab blet. >> stay with us for that and raider days here on abc 7 begins in less than 20 minutes with a special pregame edition of abc 7 news at 6:30. >> then, we'll get going home with -- tomorrow with larry beil hosting a special pregame show at 4:00 p.m. >> raiders greats will gin us for that. at 5:00 coverage of the denver oakland gamelin begins live right here on abc 7. once the game ends, larry, lincoln and rod will return with after the game. >> then, it's abc programming. and a special edition of abc 7 >>> the ports of los angeles and long beach open again. stringing clerical workers reached an agreement last night with the port's 14 shipping lines ending a walk coy in lost trades. the clerk as agreed on a pact providing protection from joby& outsourcing and layoffs. the ports handle 44% of the shipping container traffic. >> economists say prop 30, tax hi
a teenager on!n%z >> california economy may not be growing as well as has been reported. the state took in revenues last month that were 11% below projections. taxes were really down 213%. a portion due to corporate tax refunds going out last month. sales taxes areo;m(u better than expected. controller warned california must be disciplined. >> the government's monthly jobs report better than expected last month, showing the economy added 146,000 new jobs in november. bringing unemployment rate to 7.7 prgs, that is lowest in four years. california farmers want to hire more, but can't knlt. a report shows 61% reported having a shortage of workers on the farm. waits worse for farmer growsing labor intensive crops like vegetables and crop crops -- grapes. 71% said they're short on employees. the pew report says the number of unauthorized immigrants commonly known to worng farms remained constant over three years. >> pilots at american airlines approved a new labor contract. the union addressed -- announced results today saying 74% of the pilots voted to ratify the contract. pilots will pay
. and military spending cuts would hit california. >> defense is a big part of southern california economy. cuts would affect there. >> this afternoon the speaker of the house delivered the g.o.p.'s proposal reducing national debt by $2.2 trillion. including new tax revenue but leading cuts for the top 2% in place. today the president ignored reporter questions about that republican plan but later in a statement the white house rejected it. abc 7 news believes a deal will be struck about the deadline, it will be the republican that's give ground. >> i think this time around, obama learned from his past mistakes and importantly, advantage that if he does nothing he's in better shape than republicans oor professor cane says congressional republicans holding middle class cuts hostage in order to force the president's hand. the problem is the g.o.p. cannot afford to carry out that threat and they're blamed for raising everyone's taxes in order to protect the rich and put republican party in a dark hole. >> mark, thank you. >> on wall street today, stock prices fell on concern the deficit deadlock he
nexium. i can't afford to ignore our retirement savings not in this economy. we also have zero free time, and my dad moving in. so we went to fidelity. we looked at our family's goals and some ways to help us get there. they helped me fix my economy, the one in my house. now they're managing my investments for me. and with fidelity, getting back on track was easier than i thought. call or come in today to take control of your personal economy. get one-on-one help from america's retirement leader. >>> that viral video, "gangnam style" launched south korean rap sensation psy into the spot light. the most-watched youtube video ever. tonight, his lyrics from years ago and anti-american words are causing anger here at home, just as he prepares to perform for the president. here's muhammad lila. >> reporter: call it controversy, "gangnam style." long before it sparked a dance craze, he performed at a politically charged concert in 2004 with anti-american sentiment running high after a korean missionary was killed in iraq. he sang these lyrics. kill those bleeping yankees who ha
beyond that's going to be good for the long term american economy. >> but you said you're getting closer, they're saying you're getting much farther apart. they say that this is not a serious proposal. >> we have a very good plan. we have a very good mix of tax reforms that raise a modest amount of revenues on the wealthy 2% of americans. combined with very comprehensive, very detailed savings that get us back to the point where the debt is stable and favorable. if we can do that carefully, we can invest in things to make america stronger. we can rebuild infrastructure. we think those are good investments in america and we think we can afford them. >> let's look at an outline of what republicans said they heard in the meeting. $1.6 trillion in tax increases over the next ten years. $50 billion in stimulus spending right now. $400 billion in unspecified medicare cuts. over the next ten years. and then, permanent authority to increase the debt limit the president wants that authority. they look at that 1.6 trillion in revenue and say it's twice as much you get from raising taxes on the wea
of the economy this morning. when we'll learn if hurricane sandy also devastated the nation's job market. >>> incredible
's economy. katie marzullo is live in the newsroom with that and the housing news. >> reporter: the new economic forecast from ucla has lukewarm predictions for california jobs and personal income will suffer under prop 30's tax hikes. housing improvements will help the state, california will continue to grow but not as much as it iced to. the forecast says the new tax -- tax revenues under prop 30 will slow economic growth but will not derail recovery. unemployment is one example jobless rate in california should average 10 1/2% by the end of the year improved to 9.7% in 2013 and fall to 8.4 in 2014. meanwhile, great news on home prices. they have surged more than 6% in one year, the biggest jump in six years. the median home price up $18,000 to $178,600. california is one of the top 10 states where prices are rising the fastest. just crossing the wires this morning, labor department reports u.s. workers were more productive this summer, they cost their companies less, that's good. banks are seeing profits again and starting to lend money a little more freely. katie marzullo, abc7 news
the violence unacceptable. >>> and back here at home, we get a new snapshot of the economy this morning, when the government releases its jobs report for the month of november. it's believed that several factors combined seriously hampered last month's hiring. among them, concerns about the looming fiscal cliff. and other factors, as well. abc's tahman bradley has that story from washington. >> reporter: the fiscal cliff is still three weeks away. but the economy may have already taken a hit. economists predict the government's monthly jobs report, due out later this morning, will show that employers added fewer than 100,000 workers in november. superstorm sandy may be part of the reason job creation slowed. but worry over the fiscal cliff may have also had an immaterial pact. some economists believe that 200,000 fewer jobs thhave been created this year, due to uncertainty about the fiscal cliff. >> it's very important we get it done now. >> reporter: republicans and democrats are talking again. but still, no breakthrough. the parties are locked in a stalemate. president obama is demanding th
pleasure to everyone else. >> when the economy is tough and times are a little tough this is news that cheers everyone up. >> british love her, it makes everybody a little happier. >> reporter: since the day they got engaged they've been talking about the importance of family. >> be able to have a happy family ourselves. >> reporter: the when was off the table when prince william sat down with katie couric in may. >> is there anything you would like to tell me? >> tight lips. >> reporter: kate toasting with water in september. last week prince william happy accepting a onesie. the clues were there, if you knew where to look. >> one of the many ways william and kate aren't that different from your average couple is the fact they got a puppy. when you -- >> reporter: kate is not one to back down from a challenge days before being admitted to the hospital she was playing field hockey in high heels. great role model for a daughter who would need to be strong. under new rules the first born will be next in line for the throne even if it is a girl, even if a boy comes later. potential q
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.s. economy and aging population in mexico. 80% of all illegal immigration comes from mexico and latin america. >>> mike has the forecast, especially -- [ inaudible ] >>> it is raiders day! how is the weather going to be? >> great for football upper 50s falling into the lower 50s partly cloudy. if you are heading out this morning to tailgate you are going to run into mist and fog by noon that will start to lift and we'll see sunshine this afternoon, mainly low to mid 60s. around the state doppler radar dry across the entire state. a lot of 50s mid to upper 50s eureka, chico, sacramento. 49 in tahoe. >>> if you are headed to that raider game, expect a lot of traffic on 80 by the coliseum later today, give yourself plenty of time. san jose clear conditions on 87 northbound light traffic a little haze you may need your wipers for drizzle, eastbound 580 north flynn roadwork until 11, three lanes blocked off, westbound good leaving tracy up towards the altamont pass. roadwork eastbound dumbarton until 6:00. >>> 4:56. dispute over the price of crab is keeping fishermen on dry ground. more than 100 b
understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >> announcer: "nightline" continues from new york city with terry moran. >> you when it comes to have very human problem of keeping the love alive in a relationship, it might seem strange to turn to an animal for help. yet horse therapy has become a new frontier for those looking to sort out the messy matters of the heart. juju chang brings us one couple's journey to get back in the saddle. >> justin, can you tell danny what you've been through? and notice his reaction as you're talking. >> tell danny? you serious? >> reporter: this man is trying to win back the love of his life, by talking to a horse. >> okay, danny. >> reporter: justin and lyz have been together for nine years. >> justin, look at lyz's reaction. >> but a week ago, they were barely talking to each oth
. economists fear if washington can strike a deal the economy will fall back into recession and employment will shoot up. tahman bradley, abc news, washington. >>> sarah palin stepped out on the red carpet -- nancy pelosi stepped out on the red carpet for a night of glamour she strolled before photographers at last night's kennedy center honors she talked about efforts to resolve the impasse. >> this is not a night of politics and policy, but since you asked, yes we think it would be a wonderful christmas gift to the american people for the middle class to have a tax cut come january. >> pelosi says she will try to force a house vote on a senate passed bill to break the deadlock. >> the kennedy center on -- -- they received the nation's highest award. >>> let's look outside good morning. good news, it is dry this morning as we look down on some of the clouds hanging around some of the fog trying to form as we look from mount tamalpais this morning. the key is it is trying to form, right now too many high clouds out there, that's keeping the fog from forming. here's a look at live doppler,
is costing u.s. economy estimated $1pgañ billion per day in lost trades. truckers honoring ticket lines. clerical union says the únf$wguz is jobs being shipped overseas. the port says it's offering 600 clerksz lifetime job security. >> former command yefr a task force is pleading guilty. the attorney tells axe bc 7 news the client will admit to five counts tomorrow in oakland, welsh is accused of stealing drugs from evidence lockers trying to sell drugs on the streets. he was caught in a sting operation in february, last year with guilty plea, he faces a minimum of 10 years in prison. >> santa clara county board president wril have to immediately pay back nearly $13,000 after using his taxpayer funded credit cards for personal expenses. our media partner has obtained a scathing internal audit revealing supervisor wrapped up $36,000 in questionable charges in taking office in 2009. they include car rentals, and stays at casino hotel autos still ahead on abc 7 news at 4:00 net flix signs a deal with disney. >> arnold schwartzeneggar taking three? he fought global warming. >> later let s
as proved in proposition 30 could have on state economy. abc 7 news joins us live now with the story. nannette? >> well, higher taxes are not expected to be a major hit to the economy. if you're looking for a job it's hard to hear about a possible slow down in highering. governor brown got voters last month to approve proposition 30. a temporary income tax increase and a boos0qz the sales tax to save public schools. but a new anderson forecast called it a double edged sword because that will have a slight drag on the committee, slowing california growth. >> republicans have been saying that sometime. it change behaviors. it's dampening economic recovery. >> the forecast estimates payroll growth hovering between 1% and 2% in next two years. it predicts the rate will average 10.5% by the end of the year, then improve to 9.7% next year with the jobless rate around 8.4% in 2014. >> jerry shelton is a school finance consultant and says the report doesn't take into aif the kth what would have happened if voters rejected prop 30. $6 billion in cuts, mostly to public education. he thinks$c]b
. the economy did take a hit from hurricane sandy but much less than what many expected. during november there were 146,000 jobs created that was much greater than the 85,000 that economists had expected. meantime, unemployment rate fell to 7.7%. higher close for stocks yesterday on signs of possible progress in the fiscal cliff negotiations. netflix ceo in the hot seat saying the company's online viewing exceeded a billion hours in june for the first time. posting on facebook does not qualify as the fair public disclosure of information publicly traded companies are supposed to give. if you have a student loan it may get easier to pay it back. the program -- allows students who started taking loans after october 1st, 2007 to plead financial hard ship and limit payments and have the loans forgiven after 20 years. do have you old appliances that need replacing? the so-called consumer durable goods owned by americans are the oldest in nearly half a century. research says that could mean a big spending spree is on the way that could stimulate the u.s. economy. at the new york stock exchange
:15. the november jobs report is now out. it is better than expected. the economy added 146,000 jobs. the unemployment rate fell to 7.7%. the jobs report comes on the heels of the ongoing fiscal cliff debate. economists estimate 200,000 fewer jobs have been created this year due to uncertainty over the fiscal cliff. aides to president obama and speaker boehner met yesterday afternoon, but that meeting ended with no signs of progress. stay with abc7 morning news, 6:30 the opening bell live from the new york stock exchange. 6:45 live to jane king for an update. >>> in a few hours pearl harbor survivors as well as military and coast guard veterans will place a wreath in alameda to mark the 71st anniversary of the japanese attack on the pearl harbor base in hawaii. it will be followed by a 20 within gun salute. more than 2400 americans died when the japanese bombed pearl harbor in a surprise attack december 7th, 1941. the attack helped usher the u.s. into world war ii. 3:45 in afternoon sons and daughters of survivors will attend the 48th annual beacon lighting in honor of pearl harbor d
and they're finally able to come to a deal. >> especially when you see the economy just recovering >> that's the thing. the question would be, how much harm will this do to the economy? i should say, once you see that prospect of everyone's taxes going up, i do think that no matter what, by mid-january at the latest, you will see that tax rate reinstated for most americans. >> psychological lit's causing damage. confidence drop as well because of what's going on in washington. george, thank you. >>> today on the show, we got a big show, george has two powerhouse roundtables. later this morning on "this week." >>> time now for a check of the weather with ginger dee. >> most the nation is snow-starved. overnight, we're getting our first big meal of snow that is. sacred heart, minnesota, picked over 4 inches, 4.5. these are preliminary numbers. because the snow is coming down hard. look at fargo. it's coming down an inch an hour. you know those totals are going to change and change quickly. look who's enjoying it. iowa, there, in briar cliff the kids saying, all right, it's time. one more ver
burned. >> no question about it. >> especially when you see the economy just recovering. >> that's the thing. the question would be, how much harm will this do to the economy? if you have all of these spending cuts on every government program, on top of everyone's taxes going up, i should say, once you see that prospect of everyone's taxes going up, i do think that no matter what, by mid-january at the latest, you will see that tax cut reinstated for most americans. for the bottom 98%. good, good chances the taxes are going up on the wealthy. >> psychologically, it's causing damage. confidence drop as well because of what's going on in washington. george, thank you. >> thanks for cheering us up, george. we appreciate it. >>> today on the show, we got a big show, george has two powerhouse roundtables. later this morning on "this week." >>> time now for a check of the weather with ginger. >> most the nation is snow-starved. starting yesterday, overnight, into this morning, we're getting our first big meal of snow that is. you can look at some of the places that we have here. from m
of los angeles and long beach, california. the strike was costing the economy an estimated $1 billion per day because it prevented shippers from delivering cargo to stores and other businesses. 40% of all goods shipped into the country come through those ports. union workers there were protesting the outsourcing of jobs. there's no word, yet, on the terms of the deal struck. >>> and speaking of the economy, there's important news for anyone who owns a home or is looking to buy. prices, skyrocketing to levels we have not seen in years. and "weekend gma" anchor bianna golodryga is here with the latest. good morning, bianna. >> reporter: good morning to you, josh. important news and good news. everyone's been waiting for the housing market to take off since the collapse in 2008. now, we're learning that home prices jumped 6.3% in october, compared to the same time last year. that's the biggest year-to-year gain since 2006. now, prices rose in 45 states, led by a 21% jump in arizona and a 13% rise in hawaii. and according to the national association of realtors, they say the number of homes a
, the economy will fall back into recession and the unemployment rate will shoot up, rob and paula. >> tahman, the clock is ticking in all of this. where do the talks go from here this week? >> well, the white house said president obama presented his plan last week and the gop leaders shot it down. now, the ball is in the hands of the republicans. right now, it's all about the math. republicans may have to cave on taxes but president obama may have to accept deeper spending cuts. only 18 days left. >> the messy art of compromise. tahman bradley live in washington. >>> and rivers are rising across northern california this morning after three powerful storms blow through in less than a week. the latest round of flooding rain drenched the area yesterday, knocking down giant trees and leaving nearly 100,000 people without power. high winds overturned tractor trailers. abc's cecilia vega shows us what it looked like in california wine country. >> reporter: this is a storm that slammed the west coast from washington all the way down to the san francisco bay area. and this, take a look at it, one of
shipping lines is costing the u.s. economy $1 bi=es; a day in lost trade. the union jobs claims jobs being shipped overseas. the port says it's offering clerks lifetime job security. >> let's go to job security. state lawmakers deciding how to dole out money to help schools become more energy efficient. and what's happening now that prop 39 is lone. >> we want to be first in line. >> the principal is pleading his case to give the campus some of the new retro fit money. 7% of the public schools are more than 25 years old and in need of the funding badry. >> if we can look at energy efficiently, you're having savings year over year. and will have more money. >> more than 10,000 public schools together spent $700 million a year on energy. that is how much they spent on supplies. thanks to vote who approved proposition 39 last month, disadvantaged schools will be able to pay for energy retro fits of the proposition 39 closes a loophole that mostly benefited out of state corporations. it's a funding boost for the state. half goes to general fund. other half to energy needs of schools. >> that o
for the economy. that's what the american people voted for. that's how we're going to get it done. >> mr. obama's treasury secretary, tim geithner, went a step further, saying that the president would allow the nation to go over the fiscal cliff at the end of the year, if republicans don't agree to raise taxes on the wealthy. >>> and maybe abraham lincoln can help the fiscal cliff negotiations. harry reid believes so. the senate will get inspiration when reid hosts a clescreening the spielberg movie. >> whatever helps to get things moving, right? >>> hundreds of same-sex couples in washington state lined up overnight to get a marriage license now that they can legally wed. the county clerk's office in seattle opened at midnight to accommodate couples eager to make history. there's another historic first in washington overnight. it is now legal to buy and possess pot. the law, though, bans public use of marijuana, like drinking in public. and it's against the wall to sell pot. the state is trying to work out a system to license growers. >>> and with that, we'll take a look -- >> you can't buy it
gallon in city driving. 41 highway and 39 over all. that's good fuel economy. but far short of the 47 m p g that ford claims. >> ford contend it heard from some of the drives of fusion that they have gotten more than 47 miles per hour. and ford adds that driving styles another factor can cause mileage to vary. >> back to football now. festive raider fans have made their mark as most outlandish in football. raider nation truly in the league of its own. katie checked in with fans at raiderville before tonight's game. >> raider fans dedicated as they are decorated. most are outgoing. some are shy like she wouldn't tell me her age. >> she's young at heart. >>reporter: she and her son came up from l.a. >> this is our first raider game so this is exciting for u us. >>reporter: excitement and for some acceptance. >> that's right. it's all about having a good time. raiders broncos tonight matter all about having a good time. >>reporter: good time easy to find in raiderville and fans get to meet former players and snag an autograph but super fan james sorenson of hayward has all the in
economy. but far short of the 47 m p g that ford claims. >> ford contend it heard from some of the drives of fusion that they have gotten more than 47 miles per hour. and ford adds that driving styles another factor can cause mileage to vary. >> back to football now. festive raider fans have made their mark as most outlandish in football. raider nation truly in the league of its own. katie checked in with fans at raiderville before tonight's game. >> raider fans dedicated as they are decorated. most are outgoing. some are shy like she wouldn't tell me her age. >> she's young at heart. >>reporter: she and her son came up from l.a. >> this is our first raider game so this is exciting for u us. >>reporter: excitement and for some acceptance. >> that's right. it's all about having a good time. raiders broncos tonight matter all about having a good time. >>reporter: good time easy to find in raiderville and fans get to meet former players and snag an autograph but super fan james sorenson of hayward has all the ink he needs. >> al davis first trophy and i got the old school logo o. ori
an economy-crippling deadline. yet talks seem to be going nowhere. treasury secretary timothy geithner will be the guest on "this week" with george stephanopoulos. >> last weekend, you sat right here and you said you were reasonably optimistic that a deal could be afoot. in the intervening week, lot of trash-talking from both sides, can we still be somewhat hopeful? >> this week was a rough week in these negotiations. treasury secretary geithner when he went up to capitol hill, mitch mcconnell laughed when they got the offer from geithner. house speaker boehner said that the talks are at a stalemate. democrats said they're not going to make another move until republicans say they're going to go for an increase in tax rates. so, this is stalemate right now. now, these things always look horrible when they come together. more and more voices say, this is going to go over the fiscal cliff at least for a few days in january. >> if we go over the fiscal cliff, voters will likely blame the republicans for that. is is that true sf. >> all of the polls show that right now. we know that the tax
'll turn now to the fiscal cliff, 30 days from an economy-crippling deadline. where everyone's taxes go up and massive spending cuts kick in. yet, talks seem to be going nowhere. treasury secretary timothy geithner will be the guest on "this week" with george stephanopoulos. george is with us now. good morning, george. >> last weekend, you sat right here and you said that you were reasonably optimistic that a deal could be afoot. in the intervening week, we have seen a lot of trash-talking from both sides, can we still be somewhat hopeful? >> this week was a rough week in these negotiations. treasury secretary geithner when he went up to capitol hill, on thursday, the senate republican leader mitch mcconnell laughed when he got the offer from tim geithner. they think it's an offer that doesn't show any rules towards compromise. house speaker john boehner said that the talks are at a stalemate. there seems to be a huge divide. democrats said they're not going to make another move until republicans clearly say they're going to go for an increase in tax rates. republicans aren't prepared to m
on the economy as the high stakes political poker game plays out on capitol hill. it's all coming up on abc this week with george stephanopoulos right here on abc7. >>> a san francisco man and his lost service dog are back together this morning. it's a story you will see only on abc7 news. >> good girl! oh, my sweetness! >> we first brought you the story nearly two weeks ago after someone stole his best friend and constant companion from outside the davis medical center. he took lola, a four-year-old yorkshire terrier everywhere, including to his dialysis appointments. his neighbor tracy took up the cause to find lola and got an e-mail yesterday. >> a woman said i found a dog running around lake merit in oakland and i could tell it was probably lost. i brought it home and i think it's your dog. >> thank you everybody so much! >> and it was, indeed, lola. the woman who found the dog called us first, and we gave her the neighbor tracy's e-mail. so quite the reunion there. we are so happy for him. lisa argen, our meteorologist, is here. this is a morning to really concentrate on the weather. >
the so-called fiscal cliff would be a big blow to the economy. >> it would be very damaging to average americans. there's no doubt about it. >> going over the cliff will hurt our economy, will hurt our job creation in our country. it's not fair to the american people. >> reporter: without a deal to cut the deficit, almost everybody's income taxes will go up january 1st. it's more than that. there will be automatic cuts to defense, to medicare doctors, to unemployment benefits. and that could mean another recession, but -- >> right now, i would say we're nowhere. period. we're nowhere. >> reporter: the white house is standing firm on taxes. >> rates have to go up. >> whose taxes are you going to raise? >> rates are going to have go up on wealthy americans. >> reporter: in addition to $1.6 trillion in tax hikes, the white house's latest offer includes $400 billion in unspecified medicare cuts and no limit on how much the government can borrow. the republican response? >> i was just flabbergasted. i looked at him and said, you can't be serious. >> reporter: two prominent republicans told
on california's economy shows a recovery that continues to plod along. katie marzullo is live in the newsroom with analysis. >> reporter: for the last several years when home prices have have been in the news it has been bad, but not this morning. home prices are up, surged more than 6% in one year the biggest jump in six years. median price up $18,000 to $178,000, and california is one of the top 10 states where prices are rising the fastest. new this morning, anderson economic forecast from ucla is out, says housing improvements will help the state and california will continue to grow, but not as much as it used to. the forecast says the new tax revenues ungovernor brown's prop 30, will slow -- under governor brown's prop 30 will slow economic growth but not derail recovery. the jobless rate in california should average 10.5% by the end of the year. it should improve to 9.7% in 2013 and fall further to 8.4 in 2014. one other note of good news, u.s. banks seeing best profits in six years and are therefore leaning more freely. katie marzullo, -- lending more freely. katie marzullo, abc7 news.
report. >>> dire warning about what would happen if the u.s. economy goes over the fiscal cliff. survey says 1 1/2 million americans could lose jobs if lawmakers fail to come to agreement automatic spending cuts and tax increases are triggered inside. nationwide insurance warning computer network hacked names, birth dates, social security and driver licenses numbers likely stolen nationwide is apologizing and offering identity theft profession for years. hostess may have a buyer for its wonder bread bran. even with the sale, it could take -- take months before the bread brand wraps up again. >>> estimated 300 million dollar magic kingdom make overincludes pagers so and serving beer and wine themó?5to past five years. >>> abc7 is owned by disney. >>> big change that could be coming to storm warnings because of superstorm san >> dispute forcing bay area -- >>> welcome back. check out last three hours on live doppler, quiet radar returns over the ocean is the beam shooting into the clouds nothing is talling but moist with mist hanging in the -- nothing is falling but moist with the mist
, would jeopardize the economy. fiscal cliff negotiations are now in the hands of just two people, president obama and house speaker john boehner. abc's david kerley joins us live with the latest. david, we have a positive jobs report. better than expected. consumer confidence plummeted. a lot of people attributing that to the gridlock in washington. >> reporter: they're using the jobs report right now, the obama administration. a little more fuel. and we are talking about two men now. it comes down to these two guys and a lot of jobs on the line. possible hiring freezes, furloughs if we go over the cliff. federal agencies now working on reports for the white house, of the cuts they will make if we do actually go over the cliff. a diner, middle-class taxpayers and the vice president, telling republicans a deal to extend tax cuts for all but the wealthy is easy. >> the president would probably have me sprint up to the hill to bring the bill down for him to sign. it can be done like that. >> reporter: not really. even though the two sides are talking, they aren't making much progres
's reaction, yeah. >>> also, a big bounce in home prices could mean good news for the entire economy. >> some of the hardest-hit states as well. arizona, california, florida. we're seeing a big turnaround. that's news everyone can celebrate. prices are up. >>> later this half hour, going to extremes. there is suddenly a backlash from the couponers. >> couponers. >> couponers. >> it's not coupon. it's coupon. >> i hear people say it both ways. is there a right or wrong way? >> it is coupon. i have done 7,000 stories for "gma" for couponing. >> couponing? not cue -- >> not like you are cute, it's a coup. >> oh, thank you. >> we will have a story on coupons about something. >> save money. >> whatever. >>> call it extreme sailing. meet the new speed racers of the high seas. this is not a sport for the faint of heart or for those that can't swim. >> excellent point. >>> first, though, a break in a case right here in new york. a subway death that was captured in an extremely chilling photograph. and it is now continuing to make national headlines. >> police have a man in custody, in monday's incide
of their money to the federal government, without raising tax rates, which we believe will harm our economy. >> treasury secretary tim geithner also weighed in yesterday saying the president is willing to allow the nation to go over the cliff if republicans don't agree to raise taxes on the wealthy. >>> we are learning new details about colorado's shooting suspect james holmes now that thousands of e-mails in the case have been released. messages indicate holmes may have had a brief romantic relationship in the days before the tragedy. we have learned that in early june, holmes began specifically talking and fantasizing about killing a lot of people. his psychiatrist was so worried that she broke confidentiality and then contacted campus police. >>> here in new york, a suspect has been charged with murder for shoving a man to his death on the subway tracks. police say, 30-year-old, naeem davis admitted to pushing the victim after the two argued on the platform. now late wednesday, a judge denied davis bail. he admitted to police he stayed on the platform watching the man get struck by the s
on the air. >>> and breaking news on the economy this morning. 146,000 jobs were added while the unemployment rate fell to 7.7%. superstorm sandy was a small factor. >>> also weighing on job creation, the looming fiscal cliff at year's end. aides to president obama and house speaker john boehner, sitting down on thursday. but no progress was made. the sticking points, tax rates for wealthy americans, a possible lifting of the nation's debt ceiling and cutting spending on entitlements. >>> and in yet another bizarre twist in the bizarre saga of software tycoon john mcafee. mcafee was rushed to the hospital thursday from a detention center in guatemala city, after complaining of chest pains. he's now back in his cell and could be send back to belize, where police want to question him about the murder of his neighbor. >>> now, here's diane sawyer with a preview of tonight's "world news." diane? >> so, josh, it's friday. it's great to talk to you. and how about a holiday tradition for years? everybody wondering, what happened to the determined little boy they loved? well, he's all grown up. and h
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